State cuts $347 million in debt

3:08 PM,
Mar. 12, 2014

Written by

The Daily News Journal

The State of Tennessee Indebtedness Report, which was released by the Comptroller's office today, documents how the state's total debt fell during the last six months of last year by $347 million - or more than a third of a billion dollars.

Of that decrease, the state reduced the debt on its general obligation bonds, which are used to pay for most of the government's capital projects, by more than $95 million. That's part of a two-year decrease of nearly $190 million, according to a press release from Blake Fontenay, a communications director for Tennessee Comptroller Justin P. Wilson.